teresa & Ndicho, implicit in your comments is a single assumption so fundamental, so basic that is is easily overlooked - that the board & senior management wants a Qantas to survive in its present form. Test this assumption & review the last 10 years, what conclusions to do you come to?
Random thoughts that spring to mind: APA, takeover, low share price, Qantas Sale act.
I could be very wrong, but I believe it is important to test every assumption carefully, and think outside the box.